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How long will it take an account with a 6.7% interest rate, compounded continuously to double?

How long will it take an account with a 6.7% interest rate, compounded continuously to double?
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4 votes
How long will it take an account with a 6.7% interest rate, compounded continuously to double?

User Nathfy
by
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1 Answer

4 votes
2p=pe^0.067t
2=e^0.067t
t=(log(2)/log(e))/0.067
T==10.3 years
User Lllluuukke
by
8.1k points
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